Government delegation led by Prime Minister Nikola Gruevski Wednesday in Mumbai presented Macedonia's investment opportunities before Indian companies in the sectors of IT, pharmacy, construction, tourism, food processing and other manufacturing industries.

At the fourth in a row business forum in Mumbai, formerly Bombay, which is India's largest city and the financial capital of the nation, PM Gruevski emphasized that Macedonian citizens cherish great respect towards the values of ancient Indian people.

He underlined that Macedonia recognized insufficiently developed political and economic bridges with the Indian people and opened its embassy in New Delhi in 2009. Through it and through these business forums, Macedonian government wants to present the story of a small but yet growing European economy, which is third best reformer in the world as per World Bank 2012 Doing Business Report, which is a result of long and hard work of the Macedonian government aimed at improving the business climate and building image of attractive European investment destination, Gruevski said.

- We have reduced the taxes and conducted thorough administrative and regulatory reforms, which simplified some of the regulations, and some unnecessary obligations for businesses were revoked. We have introduced one-stop-shop system in customs and tax administration, measures were passed in management with construction land, communal costs were reduced, subsidies for tour operators were introduced as well as other reforms which have positive influence on business climate in Macedonia. By this we are helping businesses in efforts to cut labor force costs and to improve their competitiveness, Gruevski underlined.

Sushanto Roy of the Sahara India Pariwar, delivered address who expressed satisfaction that his company was part in helping two business forums to be held - in New Delhi and in Mumbai. He also emphasized that the link between the two countries the life and work of Mother Teresa gives strong stimulus for strengthening business ties between two economies.

Deputy PM and Finance Minister Zoran Stavreski also addressed Mumbai's business forum referring to macroeconomic stability, attractiveness of tax system and continuous stability of Macedonian banking sector in times of global financial crisis.

Minister for Foreign Investments Bill Pavleski emphasized the locations, transportation and logistics advantages, which Macedonian economy provides to potential investors.

Government economic team wraps up the visit to India with today's forum organized by Confederation of Indian Industry.

Tomorrow, team is to present Macedonia's investment opportunities in Kuala Lumpur, the capital of Malaysia.